Company number: 08514605
and approved by Robert Welch
Average time taken to pay invoices: 44 days
Invoices paid:
Invoices due but not paid within agreed terms: 3%
14 days
45 days
14 days 30 days 45 days
Answer not provided
N/A
45 days
Most of the suppliers are paid on 45 days payment terms as per Tesco Standard Terms. However, there are a few suppliers that are set up for 14 days and 30 days . These are legacy contracts and we are looking to move them onto Tesco Standard Terms as their current contracts expire.
NA
We manage all queries through a generic mailbox with a dedicated team. If there is a dispute, we would call the relevant vendors and follow up with an email to resolve. All queries are usually resolved within 7 days. We have an escalation matrix which is shared with vendors. We conduct periodic governance on the performance of the query team to ensure that queries are resolved timely and satisfactorily, thereby ensuring a build-up of invoices on hold is avoided and vendors are paid accurately.
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: GSCOP and Prompt Payment code
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
No
No